UBS Q1 Profit Surges - Quick Facts

(RTTNews) - Swiss banking giant UBS Group AG (UBS) reported Friday that its first-quarter net profit attributable to shareholders grew nearly 80 percent to 1.269 billion Swiss francs, and earnings per share rose to 0.33 franc from 0.18 franc last year.

Profit before tax rose 73 percent to 1.690 billion. On an adjusted basis, profit before tax grew 42 percent to 1.9 billion francs, driven by growth in all business divisions.

Operating income for the first quarter rose 10 percent to reach 7.532 billion francs. The group attributed 8 percent growth in adjusted operating income to Investment Bank, Wealth Management Americas and Wealth Management, and also to continuous progress in its net cost reduction program.

Quarterly net interest income, however, slid 1 percent to 1.696 billion francs.

In addition, UBS said its Board has proposed a dividend of 0.60 franc per share for the financial year 2016. Subject to shareholder approval, the dividend will be paid out of capital contribution reserves on 10 May 2017 to shareholders of record as of 9 May 2017.